Russian stocks edge down despite positive foreign background

MOSCOW, Oct 26 (PRIME) -- The Russian stock market ignored a positive sentiment on the global stock exchanges and was trading lower on Tuesday, pressured by a decline in metals and oil prices, analysts said.

The MOEX Russia Index fell 0.45% to 4,235.87 and the RTS decreased 0.17% to 1,916.29.

“The Russian stock market was trading slightly lower. … The external background was characterized by an insignificant fall in crude and metals prices,” Otkritie Broker analyst Andrei Kochetkov said.

Veles Broker analyst Yelena Kozhukhova said that optimism prevailed on the global stock exchanges, but it failed to support the Russian markets due to risks of further correction in oil prices.

Kochetkov said that the financial sector of the Moscow Exchange was among the worst performers losing 0.92% due to a 20% fall in the banking sector’s profit in September amid negative revaluation of OFZ government bonds following another key rate hike by the central bank.

Precious metals product Polymetal International dropped 3.49% on an 8% decline in production in July–September, he added.

Below are the MOEX Russia Index’s five most active stocks on Tuesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+0.03	364.95	17.126
Sberbank	+0.55	372.03	14.370
Lukoil	-0.01	7440.5	8.026
Rosneft	-0.76	650.1	5.541
NLMK	+0.99	231.1	4.600

(70.1345 rubles – U.S. $1)

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